PLACE TO BE: The first full day of Chinese President Xi Jinping’s visit concluded with a state dinner last night that featured a gift from Trump and a who’s who of Big Tech leaders.
The dinner featured an extensive guest list, including members of the Cabinet, a few Supreme Court justices, media figures and members of Trump’s family. Also present were some of the most powerful business leaders — Meta CEO Mark Zuckerburg, OpenAI head Sam Altman, Tesla and SpaceX CEO Elon Musk and Amazon founder Jeff Bezos.
Trump had brought several of them with him for his trip to China back in May, emphasizing his view of the importance of their role in the U.S.-China relationship.
The dinner capped a day of pomp and bilateral talks between the two powers. Trump presented Xi with a bald eagle statute as a gift to bring back to China during his remarks.
That came after Xi announced earlier in the day that he was gifting the U.S. with two giant pandas and invitations for 100,000 U.S. students to study in China over the next five years.
“The giant panda has been an envoy of friendship between the Chinese and the Americans,” Xi said, referencing the longstanding “panda diplomacy” that was key to improving U.S.-Chinese relations decades earlier.
The day wasn’t without significant protests against Xi’s visit. A large group of protesters rallied outside the White House during the day and at night against the Chinese Communist Party leader.
“Xi Jinping you’re not welcome,” one chant could be heard.
▪ The Hill: GOP senators dismayed by Trump’s embrace of Xi.
▪ CNN: Trump-Xi meeting heavy on pomp, light on substance.
BACK IN THE BUILDING: Journalists for CNN, MS NOW and Politico were allowed back onto White House grounds Thursday following a federal judge’s ruling blocking Trump from banning the outlets.
The banned outlets reported that their journalists and photographers were initially still denied access to the White House early in the day despite the order, leading their attorneys to petition the judge to compel the Trump administration to comply. Their reporters were ultimately allowed into the building soon after.
U.S. District Judge Timothy Kelly, a Trump appointee, ruled in the early morning hours Thursday that the administration must restore access to the outlets, finding the bans were instituted without due process, as required by longstanding judicial precedent. Kelly’s ruling is valid for 14 days.
Trump has suggested ahead of the ruling that he expected to lose and would appeal, though he hasn’t directly responded to the ruling yet. He did slam CNN and MS NOW in a Truth Social post for not covering the “made for” TV event of Xi’s visit.
The status of the White House television pool remains in limbo. Journalists from multiple outlets were on hand ready to cover Xi’s visit, but they continued their boycott of the press pool given the uncertainty surrounding whether the White House would allow CNN to rejoin the rotation, The Hill’s Julia Manchester reports. The five-member TV pool includes CNN, Fox News and the three major broadcast networks.
▪ The Washington Post: White House banned Politico citing its own quotes.
WATCH OUT: Economic warning signs are flashing as the war in Iran and Trump’s trade policies fuel more anxiety.
The average 30-year mortgage rate surpassed 7 percent Thursday, the first time it has done so since January 2025, just before Trump came back into office. The Hill’s Max Rego reports that this marks the fifth consecutive weekly rise in mortgage rates.
The rates still have room to go before reaching the 25-year high of 7.79 percent that was recorded in October 2023, but analysts expect the cost of borrowing to remain high with inflation above the Federal Reserve’s target and the war driving up energy prices.
Meanwhile, the bond market is continuing to set new high marks. The 10-year U.S. Treasury bond yield hit its highest point since 2007 on Wednesday at 5.13 percent, while the 30-year bond yield hit a two-decade intraday high of 5.45 percent on Thursday.
The Hill’s Niall Stanage reports for Insider about how the rise in the bond market is becoming more and more of an issue, even as public attention is on more colorful topics. Read more about why the bond market is sparking concerns and what it could mean for consumers and the battle for the midterms here.
▪ CBS News: What the bond market freaking out means for your money.
NARROW DEFEAT: Another war powers resolution directing the president to withdraw troops from the Iran conflict narrowly failed in the Senate on Thursday as four Republicans joined almost all Democrats in favor.
Sen. Thom Tillis (R-N.C.) voted in favor of the resolution for the first time, joining fellow Republican Sens. Susan Collins (Maine), Lisa Murkowski (Alaska) and Rand Paul (Ky.), leading to a 49-50 vote. Sen. John Fetterman (Pa.) was the only Senate Democrat to oppose the measure.
Tillis said he flipped his vote because the war has dragged on for too long without congressional authorization, also arguing that it has become a political liability for Republican candidates.
Sen. Bill Cassidy (R-La.) seemed undecided ahead of the vote but ultimately cast his vote against it. He and Senate Majority Leader John Thune (R-S.D.) were meeting just off the Senate floor right before Cassidy voted no.
The vote comes as some GOP candidates and lawmakers have started to break with the president on the war as polls show dwindling support.
▪ The Hill Insider: Pentagon turns on the jets in $1.5 trillion budget push.
▪ The Hill: Bipartisan lawmakers announce U.S. film incentive package.
No comments:
Post a Comment